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La Seda Abandons €40-Million Capital Increase

8:37 AM MDT | July 11, 2012 | Sotirios Frantzanas

La Seda de Barcelona (El Prat de Llobregat, Spain), one of Europe’s largest polyethylene terephthalate (PET) bottle resin and packaging firms, says it has decided to render its recently announced €40-million share capital increase null and void "to protect its subscribers and minority shareholders." La Seda's board decided that, based on the subscription applications received, it is not possible to carry out the company's business plan. The company says that the capital increase plan has been affected by tough economic conditions in...

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